Lender Fee
A lender's fee covers the costs a lender incurs in processing your mortgage application. These fees are typically paid upfront, either at the time of application or at closing.
Key Aspects of Lender’s Fees:
Varies by Lender: Fees differ by lender and loan type; be sure to clarify all costs with your lender upfront.
Additional Costs May Apply: Some lenders may bundle additional fees—such as appraisal or application fees—into the lender's fee.
Transparency is Key: It’s essential to review and understand each fee item to avoid unexpected costs at closing.
Understanding lender fees will help you budget accurately and avoid surprises during your mortgage process.
To learn about which lenders have lender’s fees, read our Lender Reviews.